Florida Statute 631.152 | Lawyer Caselaw & Research

The 2024 Florida Statutes

Title XXXVII
INSURANCE

Chapter 631
INSURER INSOLVENCY; GUARANTY OF PAYMENT

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F.S. 631.152

631.152 Conduct of delinquency proceeding; foreign insurers.—

(1) Whenever under this chapter an ancillary receiver is to be appointed in a delinquency proceeding for an insurer not domiciled in this state, the court shall appoint the department as ancillary receiver. The department shall file a petition requesting the appointment on the grounds set forth in s. 631.091:

(a) If it finds that there are sufficient assets of the insurer located in this state to justify the appointment of an ancillary receiver;

(b) If 10 or more persons resident in this state having claims against such insurer file a petition with the department or office requesting the appointment of such ancillary receiver; or

(2) The domiciliary receiver for the purpose of liquidating an insurer domiciled in a reciprocal state shall be vested by operation of law with the title to all of the property (except statutory deposits, special statutory deposits, and property located in this state subject to a security interest), contracts, and rights of action, and all of the books and records of the insurer located in this state, and it shall have the immediate right to recover balances due from local agents and to obtain possession of any books and records of the insurer found in this state. It shall also be entitled to recover the property subject to a security interest, statutory deposits, and special statutory deposits of the insurer located in this state, except that upon the appointment of an ancillary receiver in this state, the ancillary receiver shall during the ancillary receivership proceeding have the sole right to recover such other assets. The ancillary receiver shall, as soon as practicable, liquidate from their respective securities those special deposit claims and secured claims which are proved and allowed in the ancillary proceeding in this state, and shall pay the necessary expenses of the proceeding. It shall promptly transfer all remaining assets to the domiciliary receiver. Subject to the foregoing provisions, the ancillary receiver and its agents shall have the same powers and be subject to the same duties with respect to the administration of such assets as a receiver of an insurer domiciled in this state.

(3) The domiciliary receiver of an insurer domiciled in a reciprocal state may sue in this state to recover any assets of such insurer to which it may be entitled under the laws of this state.

(4) Section 631.141(10)(b) applies to ancillary delinquency proceedings opened for the purpose of obtaining records necessary to adjudicate the covered claims of Florida policyholders.

History.—s. 731, ch. 59-205; ss. 13, 35, ch. 69-106; s. 809(1st), ch. 82-243; ss. 86, 187, 188, ch. 91-108; s. 4, ch. 91-429; s. 1346, ch. 2003-261; s. 5, ch. 2011-226; s. 79, ch. 2016-10; s. 6, ch. 2017-143; s. 73, ch. 2023-144.

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Amendments to 631.152

Arrestable Offenses / Crimes under Fla. Stat. 631.152

Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 631.152.

Annotations, Discussions, Cases:

Cases Citing Statute 631.152

Total Results: 5

Hobbs v. Don Mealey Chevrolet, Inc.

Court: Fla. Dist. Ct. App. | Date Filed: 1994-09-23T00:53:00-07:00

Citation: 642 So. 2d 1149

Snippet: DCA 1992) (considering preclusive effects of §§ 631.152 .154, Fla. Stat. (1991)). 93-2875

Nova Ins. Group v. Dept. of Ins.

Court: Fla. Dist. Ct. App. | Date Filed: 1992-09-11T00:53:00-07:00

Citation: 606 So. 2d 429

Snippet: in a reciprocal state is described in sections 631.152 and 631.131. The former statute vests in the domiciliary… of the insurer located in this state." § 631.152(2), Fla. Stat. See also, Florida Ins. Guar. Assoc…numerous sections of the act which, like sections 631.152 and 631.131 discussed above, restrict the receiver

Corcoran v. State ex rel. Department of Insurance

Court: Fla. Dist. Ct. App. | Date Filed: 1987-02-10T00:00:00-08:00

Citation: 502 So. 2d 966, 12 Fla. L. Weekly 470, 1987 Fla. App. LEXIS 6625

Snippet: expenses of the proceeding” pursuant to section 631.152, Florida Statutes (1977 and 1979). AFFIRMED. SMITH

FLORIDA INS. GUARANTY ASSOC., INC. v. State Ex Rel. Department of Insurance

Court: Fla. Dist. Ct. App. | Date Filed: 1981-06-30T00:53:00-07:00

Citation: 400 So. 2d 813

Snippet: be ordered pursuant to Section 631.091. Section 631.152, subsection (1), pertaining to ancillary receivership

Springer v. Colburn

Court: Fla. | Date Filed: 1964-02-18T23:53:00-08:00

Citation: 162 So. 2d 513

Snippet: 1185 (1956) and cases cited therein. [14] "631.152 Same; foreign insurers (1) Whenever under this